Well Puts

On 2/4 I rolled SLW Feb 15 puts to March 12.50 for roughly the cost of commissions. I was hitting my pain threshold that day and this was my trade furthest in the money – at the time. Alas, looking at this chart now I might have been OK holding through expiration.

SLW-Daily

On 2/5 I rolled FEED Feb 5 puts to March 5 puts for a credit. The problem selling puts on these 5 dollar stocks is the lack of strike prices. I’m just moving these out further to capture some more time premium.

FEED-Daily

I’ve rolled about a third of my February inventory to March now. I rolled IAG and HEAT for a loss and in hindsight I wish I would have gone further out in expiration to get more premium. Whenever I make an adjustment I need to try to roll these for a credit or breakeven at a minimum.

If we get some support next week I should still have an OK month as far as put selling and covered calls are concerned.

I’m pulling these charts from Finviz because I’m writing this on my netbook. I hope they turn out OK.

Sell to open SLW February 15 puts. My limit order filled late morning. This is a new trade and another one from my watch list of last week. Many of the silver miners had good set ups and I wanted some exposure to precious metals. SLW has support at the $14.60 area.

SLW Daily

I’m having a bit of a tough time finding anything suitable to fill my February inventory. The silver miners are looking pretty good – notably PAAS, SLW, SSRI, SVM, MVG, HL. The silver miners would have been timed better if the puts were written last week, but it was a busy week for me and I missed it. I still think the trade could be done on a few of these. I like PAAS and I’ve done well with that one in the past.

I’m also watching apparel stores like ANF and CHS. I sold some puts on AEO about a week ago and that trade has been working out. Some other miscellaneous stocks include CIG and HEAT. The chart for CIG is almost perfect but the 17.50 strike is too close to the money. HEAT might be a good trade later this week or next week.

No trades today. I’m feeling rushed today and I feel like I need to write some puts – not the right mindset to be in when I’m logged into my brokerage account.